Territorial Bancorp Inc. (NASDAQ:TBNK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Territorial Bancorp, Inc. intends to operate as the bank holding company for Territorial Savings Bank, a federally chartered, FDIC-insured savings bank, which provides financial services to individuals, families, and businesses. Territorial Savings Bank accepts deposits; originates home equity loans and lines of credit, construction, commercial and other non-residential real estate loans, consumer loans, multi-family mortgage loans, and other loans; offers various deposit accounts, including passbook and statement savings accounts, certificates of deposit, money market accounts, commercial and regular checking accounts, and Super NOW accounts; engages in insurance agency activities; and provides various non-deposit investments, such as annuities and mutual funds through a third-party broker-dealer. Territorial Bancorp, Inc. is based in Honolulu, Hawaii with banking offices located throughout the State of Hawaii. “
Separately, Keefe, Bruyette & Woods lifted their price objective on shares of Territorial Bancorp from $26.00 to $27.00 and gave the company a “market perform” rating in a research note on Monday, August 1st.
Shares of Territorial Bancorp (NASDAQ:TBNK) traded up 0.17% during mid-day trading on Wednesday, reaching $28.85. The company had a trading volume of 3,540 shares. The stock has a market capitalization of $261.12 million, a P/E ratio of 17.59 and a beta of 0.24. Territorial Bancorp has a 52-week low of $24.87 and a 52-week high of $29.44. The company’s 50-day moving average is $28.59 and its 200 day moving average is $26.93.
Territorial Bancorp (NASDAQ:TBNK) last issued its earnings results on Friday, July 29th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. Territorial Bancorp had a net margin of 21.86% and a return on equity of 6.86%. Analysts anticipate that Territorial Bancorp will post $1.73 EPS for the current fiscal year.
In other Territorial Bancorp news, Vice Chairman Ralph Y. Nakatsuka sold 4,050 shares of the business’s stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $28.82, for a total value of $116,721.00. Following the transaction, the insider now directly owns 110,248 shares in the company, valued at $3,177,347.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Vernon Hirata sold 7,000 shares of the business’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $29.03, for a total transaction of $203,210.00. Following the completion of the transaction, the general counsel now owns 55,538 shares in the company, valued at $1,612,268.14. The disclosure for this sale can be found here. 9.80% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Emerald Acquisition Ltd. bought a new position in shares of Territorial Bancorp during the second quarter worth about $1,652,000. Dimensional Fund Advisors LP raised its position in shares of Territorial Bancorp by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 374,481 shares of the financial services provider’s stock worth $9,912,000 after buying an additional 17,566 shares during the last quarter. Foundry Partners LLC raised its position in shares of Territorial Bancorp by 18.2% in the second quarter. Foundry Partners LLC now owns 109,820 shares of the financial services provider’s stock worth $2,907,000 after buying an additional 16,925 shares during the last quarter. Amici Capital LLC bought a new position in shares of Territorial Bancorp during the first quarter worth about $391,000. Finally, Salzhauer Michael raised its position in shares of Territorial Bancorp by 123.6% in the second quarter. Salzhauer Michael now owns 26,464 shares of the financial services provider’s stock valued at $703,000 after buying an additional 14,626 shares in the last quarter. Hedge funds and other institutional investors own 43.02% of the company’s stock.
About Territorial Bancorp
Territorial Bancorp Inc is a bank holding company. The Company owns Territorial Savings Bank (the Bank). The Bank provides financial services to individuals, families and businesses through its approximately 30 banking offices located throughout the State of Hawaii. Its business consists of accepting deposits from the general public and investing those deposits together with funds generated from operations and borrowings in one- to four-family residential mortgage loans and investment securities.
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